The real estate investment arm of Goldman Sachs Group Inc. has acquired a portfolio of six North Carolina office properties from Duke Realty Corp. for $44 million, a Duke official confirmed Tuesday.
Loreley Financing Ltd. launched yet another suit against issuers of collateralized debt obligations Tuesday, this time suing Citigroup Global Markets Inc. over nearly $1 billion in CDO investments backed by subprime mortgages at the end of the housing bubble.
Retail real estate investment trust Excel Trust Inc. has purchased a Scottsdale, Ariz., office property for $56 million, completing a $166 million mixed-used property deal, an agent advising the seller said Tuesday.
Boston real estate mogul Arthur Winn, who pled guilty in November to reimbursing friends and family for $4,500 in campaign contributions made to Massachusetts politicians to garner support for development projects, on Monday sought sentencing in the form of a $50,000 fine and no jail time.
Many owners and developers mistakenly erect a wall between their legal team and their risk-management team. The contract documents written by the lawyers should be crafted as tools of risk management, says Kevin Connolly, a shareholder in Anderson Kill & Olick PC’s real estate and construction practice group.
A Louisiana federal judge on Monday nixed a $10 million suit accusing McGlinchey Stafford PLLC of malpractice, negligence and securities fraud for failing to ensure the completion of an environmental assessment on a proposed residential development that turned out to be located on a World War II-era bombing range.
A Texas appeals court on Monday scrapped a $2.49 million award to a real estate developer that sued Principal Life Insurance Co. after losing out on a deal for a shopping center, finding no evidence of a binding oral contract between the parties.
John Hancock Life Insurance Co. sued several units of JPMorgan Chase & Co. on Friday, accusing the bank of misleading investors into buying toxic residential mortgage-backed securities.
Morgan Stanley & Co. Inc. was hit with a lawsuit Friday by Ireland-based Sealink Funding Ltd. accusing Morgan Stanley for concealing the low quality of $556 million in residential mortgage-backed securities it sold Sealink before they plummeted in value during the 2008 mortgage crisis.
Capmark Financial Group Inc. on Monday launched an adversary suit against its former President and CEO William F. Aldinger III and related trusts, seeking recovery of approximately $16.7 million in stock redemption payments it made to him following his resignation.
A Minnesota federal judge on Monday tossed most of U.S. Bank NA's suit claiming First American Title Insurance Co. improperly denied $24 million in the bank's claims under a product sold as insurance for banks on home equity loans.
A California federal judge on Monday suggested that Allstate Insurance Co.'s beefed-up lawsuit over its $700 million purchase of toxic mortgage-backed securities from Countrywide Financial Corp. still doesn't support a claim that Bank of America faces successor liability over the transaction.
A Maryland federal judge moved a $19 million lawsuit claiming Goldman Sachs & Co. helped ruin defunct mortgage lender Thornburg Mortgage Inc. out of bankruptcy court on Monday after determining the claims brought by Thornburg's trustee weren't central to the bankruptcy proceedings.
A troubled mega-mall in Phoenix has sold for $12.2 million — a tiny fraction of its $155 million sale price in 2005 — according to a statement Monday from Rockwood Real Estate Advisors, which marketed the property for a court-appointed receiver after it floundered under private investor ownership.
An Ohio federal judge said Monday that new information from the U.S. Securities and Exchange Commission's enforcement action against Freddie Mac must be considered in a separate securities fraud class action accusing the mortgage giant of concealing its exposure to subprime mortgages.
A former mortgage company executive convicted of orchestrating a loan scheme that cost major banks more than $100 million pled guilty Monday in New York to trying to hire a hit man to kill one of the witnesses who helped put him in prison.
An Allen & Overy LLP corporate real estate attorney who specializes in private equity real estate deals has joined Latham & Watkins LLP as a partner in the firm's New York office, Latham announced Monday.
A New York federal judge last week sentenced a former Dick's Sporting Goods Inc. real estate executive to three years in prison and ordered him to forfeit nearly $1.5 million for a scheme in which he collected some $2 million in kickbacks from developers.
As the deadline to lock in a tenant for 400,000 square feet of office space at 3 World Trade Center looms, developer Silverstein Properties Inc. still has no takers and is preparing for the possibility of stopping construction at seven floors, a person close to the matter confirmed Monday.
Trammell Crow Co., a subsidiary of commercial real estate giant CBRE Group Inc., and management firm Principal Real Estate Investors on Monday announced a new $1 billion joint venture to develop several office and industrial parks across the U.S.